Fidelity vs Schwab


I have my retirement accounts with Fidelity and my general account with Schwab and want to consolidate into one brokerage. Curious as to what any of you say if you have experience with both?

My thoughts:

  • Fidelity automatically pays you good interest on cash balance, Schwab requires you to manually move money. This is my #1 reason I’m considering Fidelity.

  • Fidelity offers some free and reduced rate trades where Schwab does not on some options and otc. Not a major plus but a nice fringe benefit might save me $50-$100 year.

  • Schwab UI/UX is superior on iOS app. Website is also a little better IMO. This is my #1 reason I’m considering Schwab.

  • Schwab iOS app is glitchy and Fidelity appears stable. More annoying than anything but concerned the app might not work when I really need it to.

  • TOS vs active trader pro don’t appear to have any major differences? I haven’t used Fidelity’s yet but it seems to offer the same service as TOS.. NEUTRAL imo but interested to hear any thoughts.


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